Refunds & Risk

Each week, the Stokes Family Office staff puts together a list of our favorite news and updates on all things wealth management. From financial planning, portfolio construction, tax and estate planning, and retirement plan services to anything we found interesting.  Enjoy this week’s curated list for your weekend reading!

ECONOMY NEWS

The True Cost of Oil and Gas

• Joachim Klement: I often hear how we can’t afford to move to renewables because they are too expensive and need too many subsidies to be competitive. Well, have these critics thought about how much we subsidise natural gas and petrol?

Texas Is Building the Future of Electricity

• Travis Fisher & Glen Lyons: Texas is showing the country how to grow its electricity supply faster than anywhere else. The grid operator that covers the vast majority of the state, the Electric Reliability Council of Texas (ERCOT), accommodates growth because it adds supply and integrates new technologies more quickly than other systems. When “speed to power” is the name of the game—as it is for the artificial intelligence (AI) transformation underway—data center developers will continue to choose Texas.

Tax Refund Splurge For Many Americans Is Paying Down Debt

• Julia Fanzeres & Josyana Joshua: Federal refunds are averaging about $3,500 this year, according to the Internal Revenue Service data through early April. That’s up roughly $350 from last spring thanks to tax changes in President Donald Trump’s One Big Beautiful Bill Act. Many households are using the extra cash to shore up their finances rather than splurge. At a time of stubborn inflation and soaring gas prices from the Iran war, they’re focused on getting their own fiscal homes in order.

Related:

• • • • The Stokes Family Office Q1 Review
      • Private Credit, Recency Bias, and SpaceX
      • Staying Bullish Through Volatility

MARKETS NEWS

Risk, Not Volatility, Is the Real Enemy for Investors

• Christine Benz: Understanding the difference between the two is a key step toward reaching your financial goals.

Understanding Market Volatility: What History Teaches Us About Turbulent Times

• Larry Swedroe: Volatility is not an aberration—it’s a fundamental feature of equity markets and the reason stocks command a premium return over safer investments. The key is understanding that while high volatility often accompanies short-term pain, it has historically been followed by recovery.

Four Reasons the Lows Are Likely In

• Ryan Detrick: The headlines remain volatile, but there are some clues that the worst could be over for the sell-off around the war in Iran.

CHART OF THE WEEK

Via J.C. Parets of TrendLabs: Over the past decade, moves from extreme fear back to relative calm are getting resolved in a matter of weeks, not months or quarters like we saw in the prior decades. See more.

Want to hear more from our team? Check out the Lagniappe Podcast. 

Has the Market Hit the Bottom? 

Ceasefire talks are ongoing, the Strait of Hormuz is open, and the market is bouncing back. Doug and Greg will discuss whether the market has hit the bottom. They explore the larger implications of recent events in the Middle East, the impact of social media on investor sentiment, and the resilience of the consumer market. The conversation also touches on the SpaceX IPO and the bullish potential for long-term market growth.

Stokes Family Office is 100% Family Owned, and has been continually operating in the New Orleans Area for over 35 years.  As a family office, we are focused on family wealth, financial planning, and tax planning. We are your local experts for Gulf South wealth management.